(L-R) U.S. President Donald Trump and Rolex CEO Jean-Frederic Dufour get successful the Rolex suite anterior to the Men's Singles Final lucifer betwixt Jannik Sinner of Italy and Carlos Alcaraz of Spain connected Day Fifteen of the 2025 US Open astatine USTA Billie Jean King National Tennis Center connected September 07, 2025 successful New York City.
Matthew Stockman | Getty Images
Sen. Elizabeth Warren served Rolex with a captious missive connected Wednesday for hosting President Donald Trump astatine the U.S. Open, alleging that the Swiss institution could beryllium trying to sidestep tariffs slapped connected its location country.
The Massachusetts Democrat said that Rolex's actions people the latest illustration of companies benefiting from their leaders' relationships with Trump. She said the lawsuit warrants an enquiry into "whether you are taking a leafage from Apple and Nvidia's playbook."
"This invitation ... raises questions astir whether you are cultivating a narration with President Trump successful attempts to unafraid lucrative tariff exemptions for Rolex products," Warren wrote successful the missive addressed to Jean-Frederic Dufour, the watchmaker's CEO, that was shared exclusively with CNBC.
Both Nvidia and Apple person announced domestic investments since Trump returned to the White House successful January. Trump invited exertion assemblage CEOs to the White House for a meal earlier this month.
Rolex, Apple and the White House did not respond instantly to CNBC's petition for comment. Nvidia declined to comment.
Warren's missive comes weeks aft Trump was spotted astatine Rolex's midcourt box alongside Dufour during the U.S. Open men's singles championship. The president was joined by household members and high-ranking medication officials including Treasury Secretary Scott Bessent and Press Secretary Karoline Leavitt, NBC News reported.
A presumption of U.S. President Donald Trump (C) connected a Rolex show during the Men's Singles Final lucifer betwixt Jannik Sinner of Italy and Carlos Alcaraz of Spain connected Day Fifteen of the 2025 US Open astatine USTA Billie Jean King National Tennis Center connected September 07, 2025 successful New York City.
Al Bello | Getty Images Sport | Getty Images
Trump announced successful August that helium would spot a 39% levy connected Switzerland's exports — a higher complaint than those faced by the European Union and United Kingdom. Bernstein expert Luca Solca told clients that "the past infinitesimal woody that galore had hoped for didn't materialize" betwixt the U.S. and Switzerland.
Swiss watchmakers — an manufacture the state is known for worldwide — volition apt person to hike prices arsenic a effect of Trump's tariffs, Solca said.
"Given the President's grounds of doling retired peculiar attraction to CEOs who are capable to woo him with flattery, payoffs, oregon both, the timing of his attendance astatine the lucifer successful the Rolex container is concerning," Warren wrote. "I person questions astir whether you are attempting to curry favour with the President successful an effort to unafraid special-interest exemptions for Rolex products."
A exemplary from Swiss watchmaker Swatch named "WHAT IF...TARIFFS?" with the numbers 3 and 9 reversed connected its face, arsenic a play connected the 39% import tariffs that U.S. President Donald Trump slapped connected Switzerland past month, is pictured connected wrist astatine a Swatch store successful Geneva, Switzerland, September 12, 2025.
Pierre Albouy | Reuters
Fellow Swiss watchmaker Swatch took a antithetic attack to the U.S. levies.
The institution launched a special-edition ticker model this period with the positions of the numbers 3 and 9 swapped. Looking from near to right, the numbers unneurotic amusement "39."
A institution spokesperson told CNBC Swatch would halt selling the ticker erstwhile the U.S. changed its tariff argumentation toward Switzerland.
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